How to Avoid Losing Your Most Profitable Customers

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April 16, 2013 by stevenmacdonald


Businesses need customers and one of the most effective and least expensive ways to market a business is through great service. The importance of great customer service is at an all-time high and creating a great product or service is no longer enough to stay ahead in today’s competitive landscape.

It can take years to build a great customer relationship but only a moment to destroy one. Two thirds of all customers leave a business and never come back due to poor customer relations. The five points below will make sure you avoid losing your most profitable customers.

Reward your loyal customers

Offering incentives to attract new customers is often a necessary strategy in customer acquisition. However, make sure you don’t leave existing customers out and reward their loyalty with existing customer discounts. Sales to existing customers typically result in a bigger impact on your bottom line.

Keep your long-term employees

People don’t buy from brands or companies; they buy from people and the great relationship or service they received. It’s tempting to assume that long-term customers love your brand but a quick way to lose customers to replace long-term employees. Do everything you can to keep your sales people and customer service reps. To hire new employees will not only costs the company in training and recruitment, but can also have an impact on your customer base.

Resolve problems quickly

Customers don’t care about your policies, they just want problems fixed. Having a policy is great for making sure employees comply but should be used more as guidelines, rather than rules. By giving your employee the freedom to make judgment calls, you can build an even stronger relationship between your customers and brand.

Focus on what you know best

As companies grow, it’s common for new products or services to emerge as an organization looks to expand its customer base. Never forgot the principal product that brought you your key customers in the first place and don’t take your these customers for granted. Create a list of customers you cannot afford to lose and treat them like royalty – These customers are the foundation of your business.

Keeping customers is key to your bottom line

When you lose a disgruntled customer, that person often tells many others about the reason they left your business. By avoiding the loss in the first place, you keep one happy customer, and you may gain a few new visitors at the same time.

When you lose an unhappy customer, that person is likely to spread the reason why they left your business through word of mouth and online. By avoiding this in the first place, you can keep your customers satisfied and loyal. Your most profitable customers are almost always long-term customers.

A customer is the most important visitor on our premises. He is not dependent on us; we are dependent on him. He is not an interruption in our work; he is the purpose of it. He is not an outsider in our business; he is part of it. We are not doing him a favor by serving him; he is doing us a favor by giving us an opportunity to do so.

Mahatma Gandhi

Do you find it easy to keep your customers happy? What are some of the methods you use to avoid losing your your most profitable customers? Comments are welcome below.

About Steven: Steven Macdonald has been working with online marketing since 2005. Experienced in online gaming and travel, Steven is currently working on global SEO with SuperOffice CRM and regularly contributes to the Tribes blog.

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